Saudi Aramco

Saudi Arabia’s oil giant Saudi Aramco targets to stop producing fuel oil at its refineries by 2024, as stricter environmental regulations for the shipping industry will significantly cut the largest source of demand for fuel oil ...

Saudi Aramco

Saudi Aramco is now planning to explore oil and gas resources outside of the Saudi Arabian kingdom. This is according to a recent interview given by the oil minister, Khalid al Falih, to Financial Times. Falih said that, “Going forward the world is going to be Saudi Aramco’s playground,” referring to the national oil company of Saudi Arabia. Al Falih was the CEO of Aramco from 2009 to 2015. ...

Saudi Aramco

“There is no intention whatsoever to chip away at Aramco’s exclusivity and its concession,” Saudi Energy Minister Khalid Al-Falih told reporters on Saturday when asked whether the opening to international investors would extend to upstream oil and gas assets. ...

Saudi Aramco

Aramco has said it plans to tap the market in the second quarter. The process of accessing the dollar debt market will force the world’s largest oil producer to disclose its accounts to investors for the first time since its nationalization four decades ago. ...

Saudi Aramco

Satorp, the joint venture between Saudi Aramco and Total SA, hired Sumitomo Mitsui Banking Corp. and Riyad Bank to help raise funds to develop a petrochemical facility in the kingdom, according to people with knowledge of the matter. ...

Saudi Aramco

"That shows that Aramco's hesitation about doing an IPO is not about keeping information private," said Ellen Wald, an independent energy policy analyst at Transversal Consulting. "It's not because they're hiding something." ...

Saudi Aramco

Saudi Aramco plans to tap the debt market in the second quarter to finance the acquisition of petrochemical giant Sabic, likely issuing its first ever international bond and disclosing its accounts in the process. ...

Saudi Aramco

“One reason is the geopolitical aspect of how to keep the U.S. close and maintain the strategic relationship, and secondly they see LNG as diversifying, investing in a fuel that would have perhaps more of a lifespan than a straight crude oil play.” ...

Saudi Aramco

Finalisation has been achieved on a deal that could see Saudi Aramco purchasing equipment from a Russian company for the first time, with the support of Russia’s government-backed sovereign wealth fund. ...

Saudi Aramco

Saudi Aramco has completed its acquisition of a 50 percent stake in Arlanxeo, its Netherlands-based joint venture with chemicals firm Lanxess, to become the full owner of the company, it said in a statement on Monday. ...

Saudi Aramco

Baker Hughes, a GE company, has been awarded a major stimulation and well-testing contract by Saudi Aramco to be a partner in optimizing production from new and existing wells across conventional fields in Saudi Arabia. ...

Saudi Aramco

It also wants to transform as much as 3 million barrels of crude a day -- about 30 percent of its output -- into chemicals. Demand for petrochemicals will rise faster than for any other segment of the oil industry, according to the International Energy Agency. ...